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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
17. Goodwill and Other Intangible Assets

Goodwill

(PPL)

The changes in the carrying amount of goodwill by segment were:
Kentucky
Regulated		Rhode Island RegulatedCorporate and
Other 		Total
 20242023202420232024202320242023
Balance at beginning of period (a)$662 $662 $725 $725 $860 $861 $2,247 $2,248 
Goodwill recognized during the period (b)— — — — — (1)— (1)
Total$662 $662 $725 $725 $860 $860 $2,247 $2,247 

(a)There were no accumulated impairment losses related to goodwill.
(b)Recognized as a result of purchase price allocation adjustments related to the acquisition of RIE. See Note 9 for additional information.

Other Intangible Assets

(PPL)

The gross carrying amount and the accumulated amortization of other intangible assets were:
 December 31, 2024December 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Subject to amortization:    
Contracts (a)$125 $116 $125 $107 
Renewable Energy Credits20 — 15 — 
Land rights and easements432 147 411 143 
Licenses and other2 — 2 — 
Total subject to amortization579 263 553 250 
Not subject to amortization due to indefinite life:    
Land rights and easements18 — 18 — 
Total not subject to amortization due to indefinite life18 — 18 — 
Total$597 $263 $571 $250 

(a)Gross carrying amount in 2024 and 2023 includes the fair value at the acquisition date of the OVEC power purchase contract with terms favorable to market recognized as a result of the 2010 acquisition of LKE by PPL.

Current intangible assets are included in "Other current assets" and long-term intangible assets are included in "Other intangibles" on the Balance Sheets.
Amortization expense was as follows:   
 202420232022
Intangible assets with no regulatory offset$5 $5 $5 
Intangible assets with regulatory offset8 9 9 
Total$13 $14 $14 

Amortization expense for each of the next five years is estimated to be:
 20252026202720282029
Intangible assets with no regulatory offset$4 $4 $4 $4 $4 
Intangible assets with regulatory offset8 2 — — — 
Total$12 $6 $4 $4 $4 

(PPL Electric)

The gross carrying amount and the accumulated amortization of other intangible assets were:
 December 31, 2024December 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Subject to amortization:    
Land rights and easements$396 $141 $389 $138 
Licenses and other2 1 2 1 
Total subject to amortization398 142 391 139 
Not subject to amortization due to indefinite life:    
Land rights and easements18 — 17 — 
Total$416 $142 $408 $139 

Intangible assets are shown as "Intangibles" on the Balance Sheets.

Amortization expense was as follows:
 202420232022
Intangible assets with no regulatory offset$4 $4 $4 

Amortization expense for each of the next five years is estimated to be:
 20252026202720282029
Intangible assets with no regulatory offset$4 $4 $4 $4 $4 

(LG&E)

The gross carrying amount and the accumulated amortization of other intangible assets were:
 December 31, 2024December 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Subject to amortization:    
Land rights and easements$7 $2 $7 $2 
OVEC power purchase agreement (a)86 79 86 73 
Total subject to amortization$93 $81 $93 $75 

(a)    Gross carrying amount represents the fair value at the acquisition date of the OVEC power purchase contract recognized as a result of the 2010 acquisition by PPL. An offsetting regulatory liability was recorded related to this contract, which is being amortized over the same period as the intangible asset, eliminating any income statement impact. See Note 7 for additional information.

Long-term intangible assets are presented as "Other intangibles" on the Balance Sheets.

Amortization expense was as follows:
 202420232022
Intangible assets with regulatory offset$6 $6 $6 
Amortization expense for each of the next five years is estimated to be:
 20252026202720282029
Intangible assets with regulatory offset$6 $1 $— $— $— 

(KU)

The gross carrying amount and the accumulated amortization of other intangible assets were:
 December 31, 2024December 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Subject to amortization:    
Land rights and easements$29 $4 $17 $4 
OVEC power purchase agreement (a)39 36 39 33 
Total subject to amortization$68 $40 $56 $37 

(a)    Gross carrying amount represents the fair value at the acquisition date of the OVEC power purchase contract recognized as a result of the 2010 acquisition by PPL. An offsetting regulatory liability was recorded related to this contract, which is being amortized over the same period as the intangible asset, eliminating any income statement impact. See Note 7 for additional information.

Long-term intangible assets are presented as "Other intangibles" on the Balance Sheets.

Amortization expense was as follows:
 202420232022
Intangible assets with regulatory offset2 3 3 

Amortization expense for each of the next five years is estimated to be:
 20252026202720282029
Intangible assets with regulatory offset$2 $1 $— $— $—